In a recent development, former President Donald Trump's net worth has taken a significant hit as the value of his stake in Trump Media continues to decline, resulting in a drop of approximately $475 million on Thursday alone. The decreasing value has resulted in a staggering decrease of his stake in the social media company by over $2 billion since the beginning of this month.

As per estimates, Trump's net worth now stands at around $5 billion after witnessing a nearly 8% drop on Thursday. The former President experienced a substantial growth in his net worth on March 26, when Trump Media made its public debut, with the company's shares reaching a peak of $79.38. During that period, his net worth reportedly grew by $4.1 billion.

Forbes has estimated the worth of Trump Media to be between $40 million and $90 million, using similar metrics employed to determine the valuation of other social media companies such as average revenue per user and price-to-sales ratio.

However, the declining trend of Trump Media's shares has worsened after a prior dip earlier this week. On Tuesday, the social media company witnessed a sharp decline, with its shares falling by nearly 10%. This downturn comes after the company went public through a merger with Digital World Acquisition Corp. Trump Media was able to enter the market without the regulatory hurdles commonly associated with traditional public offerings owing to Digital World's status as a special-purpose acquisition company.

Since then, Trump Media's stock movement has proven to be volatile. The company experienced a significant drop of almost 20% following Trump's conviction in his hush money trial. Despite these fluctuations, the former President's media venture continues to weather challenges as it navigates the competitive landscape of the social media industry.

It remains to be seen how the future unfolds for Trump Media and its impact on the former President's net worth. As the company grapples with sliding shares and market fluctuations, all eyes will be on whether it can bounce back and regain the value that was once projected for this media endeavor.